UK: COURT OF APPEAL HAS REFUSED PERMISSION FOR A JUDICIAL REVIEW OF THE FCA DECISION TO PROVIDE ASSISTANCE TO THE US CFTC IN AN ONGOING INVESTIGATION

On 2 November, a release on Mondo Visione reported that the Court of Appeal has refused permission for a group of traders to proceed with a judicial review of the FCA decision to provide assistance to the Commodity Futures Trading Commission (CFTC) in an ongoing investigation.  The FCA had issued notices requiring production of information by UK residents (the UK subjects) in order to assist the CFTC in an investigation of certain crude oil trading on a US derivatives exchange.  Under the Financial Services & Markets Act, 2000, the FCA is able to use its investigation powers to assist foreign regulators. The FCA also commonly seeks assistance from foreign regulators in relation to its own investigations.

https://mondovisione.com/media-and-resources/news/decision-of-the-court-of-appeal-r-sutton-v-uk-financial-conduct-authority/

https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017